According to Yonhap News,

The Ministry of SMEs and Startups (MSS) is launching an initiative to foster "Domain AX (AI Transformation) Startups" that aim to enhance industrial productivity and competitiveness through artificial intelligence (AI) technology.

On July 10, the MSS announced that it would open the "Core Domain AX Startup Fostering Project" for applications fon July 11 to August 1. Through this, the ministry plans to select and support 90 promising AI startups.

The goal is to strengthen investments in companies driving AI transformation in specific industrial sectors.

The ministry has designated five key sectors for this project: ▲ Bio ▲ Content ▲ Manufacturing ▲ Finance ▲ Smart Agriculture.

For starter, it will select 50 innovative AI startups with advanced technologies in these fields. These companies will receive up to KRW 100 million in funding for the development of Domain AX models, technology enhancement, and commercialization of their technologies.

In addition, the selected companies will have access to infrastructure, including computing resources and test equipment from the leading institutions such as the "Artificial Intelligence Industry Cluster Agency."

Next, 40 promising AI startups that have partnered with large companies, mid-sized enterprises, small businesses, and public institutions on projects requiring AX will be supported with up to KRW 100 million in collaboration funds and assistance in securing new market channels.

The ministry plans to link the most successful startups with next year's "Super Gap Startup" project to help them expand into foreign markets.

This initiative follows the success of the "Super Gap Startup 1000+ Project," which attracted high competition earlier this year. The high demand for additional support from both large corporations and startups led to the launch of this new program.

The Ministry stated, "AX technology, which generates results by integrating various industries and companies, is a core area of national economic development. We will work to help innovative AI startups utilize AX to make Korea one of the top three AI powers in the world."


aayyss@yna.co.kr
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Source: Yonhap News (July 10, 2025)

** This article was translated from Korean.